The euro experienced a very bad week, falling to the lowest level in almost a year against the US dollar, even though most other major currencies, including the Great Britain pound and the Japanese yen, were rallying versus the greenback. The euro started the week soft as European Central Bank President Mario Draghi hinted last week at a possibility of another round of stimulus measures. While the German Finance Minister attempted to downplay easing expectations, … “Another Weekly Decline for Euro on Easing Bets”
Month: August 2014
AUD Falls vs. USD, Holds Ground vs. JPY
The Australian dollar fell against its US peer as Australia’s private sector credit trailed analysts’ forecast. The losses were limited though, and the currency even managed to rise a little against the Japanese yen. The Reserve Bank of Australia reported that total credit for the private sector increase 0.4 percent in July. While it was not a bad result strictly speaking, the growth was still smaller than predicted 0.5 percent … “AUD Falls vs. USD, Holds Ground vs. JPY”
Russian Ruble Slumps as Ukrainian Crisis Worsens
The Russian ruble declined today as worsening relationships between Russia and Ukraine may lead to escalation of the conflict in Eastern regions of Ukraine, while the United States and the European Union threaten to implement additional sanctions against Russia. Ukrainian authorities were accusing Russia of sending troops to the Eastern regions of Ukraine as a help to rebels. Meanwhile, US and European leaders talked about another round of sanctions. The situation led to an increase of wheat prices as both Eastern … “Russian Ruble Slumps as Ukrainian Crisis Worsens”
GBPUSD: Vulnerable, Loses Upside Steam
GBPUSD: GBP closed slightly higher on a rejection candle on Thursday leaving risk of a downside trend continuation on the cards. On the downside, support lies at the 1.6550 level where a break will aim at the 1.6500 levels. A break of here will turn attention to the 1.6450 level. Further down, support lies at … “GBPUSD: Vulnerable, Loses Upside Steam”
Euro Heads for Another Weekly Decline
Even though the euro is a little higher against some of its major counterparts, the 18-nation currency is headed for a weekly decline. The latest economic data confirms that rises in consumer prices continue to slow. For the seventh week in a row, the euro is set for a weekly decline. This run of declines is the longest in more that 10 years. The latest economic data, focusing on consumer prices, was released earlier today. It … “Euro Heads for Another Weekly Decline”
FxPro introduces MT4 WebTrader Platform
Forex broker FxPro launches a new platform for trading MetaTrader 4 on the web. The platform enables both real and demo accounts with easy switches. FxPro recently launched the the Prepaid Infinite Mastercard. For more on the MT4 web platform, here is the official press release: FxPro Group Ltd (FxPro) has just launched its own proprietary browser-based … “FxPro introduces MT4 WebTrader Platform”
EUR/USD: Trading the Eurozone CPI Aug 2014
Eurozone CPI Flash Estimate, released each month, is the primary gauge of consumer inflation. A reading which is higher than the market forecast is bullish for the euro. Update: EUR/USD: Trading the Eurozone CPI Flash Estimate Here are all the details, and 5 possible outcomes for EUR/USD. Published on Friday at 9:00 GMT. Indicator Background Analysts consider … “EUR/USD: Trading the Eurozone CPI Aug 2014”
Yen Halts Rally as Economic Data Provides Mixed Picture
The Japanese yen attempted to extend its rally against the US dollar today but failed and retreated close to the opening level. The currency traded mostly sideways against other major counterparts. Today’s economic data provided a mixed picture of Japan’s economic performance, failing to give an edge to the yen. On one hand, Japan’s core Consumer Price Index rose 3.3 percent in July, and Tokyo core CPI advanced 2.7 percent in August, … “Yen Halts Rally as Economic Data Provides Mixed Picture”
Dollar Gains on Domestic Data, Loses Ground vs. Yen
The US dollar rose against some of its major peers, including the euro, with help of positive domestic data. It looks like news from Ukraine limited gains somewhat and actually send the greenback down versus the Japanese yen and even the Great Britain pound. Economic indicators from the United States were good, particularly the gross domestic product data and the housing report. GDP expanded 4.2 percent according the preliminary … “Dollar Gains on Domestic Data, Loses Ground vs. Yen”
USDJPY: Sees Further Corrective Weakness
USDJPY: Having continued to face downside pressure, USDJPY extended its weakness today. This leaves risk of further downside on the cards. On the downside, support comes in at the 103.50 level where a break if seen will aim at the 103.00 level. A break if it occurs will aim at the 102.50 followed by the … “USDJPY: Sees Further Corrective Weakness”